Megan Riess to speak at Novogradac 2023 Fall New Markets Tax Credit Conference, Oct. 26-27, New Orleans
October 26-27, held at the Four Seasons New Orleans
Novogradac 2023 Fall New Markets Tax Credit Conference — October 26th to 27th, 2023 — at the Four Seasons New Orleans. Megan Riess will join her colleagues on forum panels to discuss the latest trends in New Market Tax Credit, affordable housing and community development.
SMG - subsidiary of ASM Global - manages $450 million renovation of Caesars Superdome in partnership with the State of Louisiana, Louisiana Stadium, Exposition District & the New Orleans Saints
SMG, a subsidiary of ASM Global, manages $450 million multli-phase, mutli-year renovation of the Caesars Superdome in partnership with the State of Louisiana, the Louisiana Stadium and Exposition District and the New Orleans Saints. The renovation will be complete before the 2025 Super Bowl is hosted at the Superdome. Funding includes LSED funds, state capital outlay dollars and private funding from the Saints (including NFL G4 funding). Megan Riess represents SMG on the transaction.
SMG - subsidiary of ASM Global - finalizes project development agreement for the New Orleans Saints locker room renovation at the Caesars Superdome
SMG, a subsidiary of ASM Global, finalizes a project development agreement for the renovation of the New Orleans Saints locker room at the Caesars Superdome. Attorneys Megan Riess and Chelsea Fitzgerald are outside general counsel to SMG on all matters related to the management and operation of the Caesars Superdome and Smoothie King Center.
Texas-based federal credit union - Credit Human -expands into New Orleans
Texas-based federal credit union, Credit Human, expands into New Orleans. Among other products, Credit Human provides tax credit bridge and construction lending for projects utilizing historic tax credits, low-income housing tax credits and renewable energy tax credits and incentives. Recent projects include the redevelopment of the Central Congregation United Church of Christ by NANO and the Community Lighthouse resiliency hub project by Together New Orleans. Megan Riess serves as lender counsel on the transactions.
Home Bank, NORA, and Stonehenge Capital -collaborate in redevelopment of the historic Dew Drop Inn - located in New Orleans, LA
Dew Drop Inn: Home Bank, the New Orleans Redevelopment Authority and Stonehenge Capital collaborate in the redevelopment of the historic Dew Drop Inn. Acting as lender and tax credit investor counsel, Megan Riess and Chris Wootten handled the transaction, which utilized state and federal new markets, state and federal historics, Community Development Block Grants and commercial bridge and permanent debt.
Longwell Riess Client - Clarity Development Company - develops Badgerow Building in Sioux City, Iowa
Longwell Riess client Clarity Development Company develops Badgerow Building in Sioux City, Iowa, using federal and state historic tax credits, tax increment funding, and bridge, construction and permanent loans. Megan Riess and Chelsea Fitzgerald represented the developer on the transaction.
Longwell Riess Client - GCHP - partners with Crescent Care for historic redevelopment of 2515 Canal Street property in New Orleans, LA
Longwell Riess client Gulf Coast Housing Partnership partners with Crescent Care as project borrower and non-profit sponsor in the historic redevelopment of property located at 2515 Canal Street, New Orleans. The $22,000,000 project was financed with federal new markets tax credits, federal and state historic tax credits, and a novel HHS loan product. Upon completion, the project will expand the clinical capacity and medical services offered by the Crescent Care organization. Kelly Longwell and Chris Wootten handled the transaction.
NORA & The City of New Orleans form innovative redevelopment partnership to facilitate redevelopment of city-owned properties for affordable housing and economic development
The City of New Orleans and the New Orleans Redevelopment Authority form innovative redevelopment partnership to facilitate the redevelopment of city-owned properties for affordable housing and economic development. NORA will act as long-term ground lessor to administer the redevelopment process of city-owned properties in public-private partnerships with private developers. Megan Riess represented NORA on City partnership and the redevelopment transactions.
NORA partners with the City of New Orleans, the Industrial Development Board of New Orleans, and Bayou Phoenix developer, to redevelop former Six Flags Site in New Orleans East
NORA partners with the City of New Orleans, the Industrial Development Board of New Orleans and Bayou Phoenix developer to redevelop the former Six Flags Site in the New Orleans East neighborhood. NORA will administer the development agreement with Bayou Phoenix and act as long term ground lessor to the private developer. Megan Riess served as representation for NORA.
Longwell Riess Client - AMCREF Community Capital -partners with Capital One to provide $13 million of NMTC financing to Impact Housing
Longwell Riess client AMCREF Community Capital partners with Capital One to provide $13 million of new markets tax credits financing to Impact Housing. The financing will be used to equip and operate a facility in Baxley, Georgia for the manufacture of modular housing units for sale and assembly in Georgia, Florida, and surrounding states. Longwell Riess attorneys Megan Riess and Chris Wootten represented AMCREF in the transaction.
Longwell Riess Client - AMCREF Community Capital -partners with U.S. Bancorp Community Development Corporation to provide $10 million NMTC financing to IntegriCo Composites
Longwell Riess client AMCREF Community Capital partners with U.S. Bancorp Community Development Corporation to provide $10 million of new markets tax credits financing to IntegriCo Composites. The financing will be used to expand IntegriCo’s operation of a manufacturing facility in Sarepto, Louisiana for the fabrication and manufacture of composite railway crossties and construction matting using recycled plastics. Longwell Riess attorneys Megan Riess and Chelsea Fitzgerald represented AMCREF in the transaction.
Longwell Riess Client - GCHP - continues Housing + Health developments at The Pearl in Jackson, MS
Longwell Riess client Gulf Coast Housing Partnership continues its housing + health developments at The Pearl in Jackson, Mississippi. The $28 million project utilized low-income housing tax credits and new markets take credits for an affordable housing and health care facility for seniors. Kelly Longwell, Ben Guider and Chris Wootten represent GCHP on the transaction.
Longwell Riess Client - SBP Inc. - St. Claude Gardens Project in New Orleans, LA
Longwell Riess client SBP Inc. receives award of tax-exempt bonds and 4% low-income housing tax credits for its second phase of the St. Claude gardens project in the Lower Ninth Ward neighborhood of New Orleans, Louisiana. The project is a 39-unit scattered site affordable housing development using Road Home properties, LIHTCs, tax-exempt bonds, HOME funds and solar investment tax credits. Megan Riess and Chelsea Fitzgerald represent SBP in the transaction.
Longwell Riess Client - GCHP- partners to develop $80 million commercial project of old Brown’s Dairy site in New Orleans, LA
Longwell Riess client Gulf Coast Housing Partnership partners with Alembic Community Development to develop an $80 million residential and commercial project on the site of the old Brown's Dairy in New Orleans, Louisiana. The development will include 192 units of affordable housing as well as a health care and community facilities. Financing included low-income housing tax credits, new markets tax credits, community development loans and commercial debt. Kelly Longwell, Megan Riess, and Ben Guider represented the developer in the transaction.
Longwell Riess Client - Clarity Development Company-18 Howard Project in Omaha, Nebraska
Longwell Riess client Clarity Development Company receives award of low-income housing tax credits from the Nebraska Investment Finance Authority for its 18 Howard project in Omaha, Nebraska. The $34 million project will include a 100% reservation of units for affordable housing and will utilize tax exempt bond financing and PACE financing in addition to the tax credits. Located in the Flatiron District of Omaha, Nebraska, the project will include 180 units of mixed-income housing, restaurants, health center facilities and commercial spaces. Megan Riess and Chelsea Fitzgerald represent Clarity Development Company on the transaction.